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Strategic Objective
Identify priority threats to the financial system using intelligence analysis and outreach to the financial sector
Strategic Objective
Overview
Treasury’s Office of Terrorism and Financial Intelligence (TFI) forms the vanguard of protecting the nation’s finances against illicit actors. Using intelligence from all sources, Treasury works to identify financial activity associated with actors, operations, or systems that threaten the national security or financial sector of the United States. Partnering with other parts of the government, Treasury aims to detect, deter, and deny resources to these threats, particularly through the administration of sanctions. The sanctions programs administered by TFI’s Office of Foreign Assets Control (OFAC) seek to disrupt the financial and commercial networks of terrorists, narcotics traffickers, and proliferators of weapons of mass destruction, among others. Treasury helps degrade these networks by publicly identifying the leadership, participants, and network of illicit organizations, and denying them access to the U.S. financial system and market place.
Read Less...Progress Update
Treasury, in consultation with the Office of Management and Budget, has determined that performance toward this objective is making noteworthy progress due to efforts in applying little-used authorities to share information and implementing the new business system and advanced algorithms to identify targets and pursue enforcement actions as a result of the intelligence.
Treasury works to protect the integrity of the financial system and advance key national security and foreign policy objectives through outreach, coordination, and collaboration with public and private sector partners; regulation, enforcement, financial intelligence analysis; and targeted financial activities and measures. One of Treasury’s FY 2014-2015 Agency Priority Goals (APGs) was to use proactive analytics to focus enforcement on high-priority threats. By focusing on this APG, Treasury implemented advanced analytics capabilities and improved the use and sharing of information on threats to the financial system. In FY 2015, FinCEN initiated daily tactical reporting to law enforcement, foreign partners, and the intelligence community through the use of new information technology capabilities. By developing and employing business rules in a modernized system, FinCEN automatically screened Bank Secrecy Act (BSA) reports daily on topics of national security concern, including terrorist financing, cyber threats, and Ukraine kleptocracy. As a result of the efforts, FinCEN quadrupled the intelligence products provided and increased completed enforcement actions in FY 2015, compared to FY 2014.
